Cryptocurrency has proved to be a revolutionary technology that is going to change the world profoundly. Various cryptocurrencies have come up in recent years, with each promising better earnings, security, and transaction speed. The most famous ones are Bitcoin, Ethereum, and Litecoin. If you are looking forward to buying and selling digital currencies, you have come to the right place.
A cryptocurrency trading platform, also known as a cryptocurrency exchange, is an online service where one can buy or sell digital currencies, which include common cryptocurrencies like Bitcoin and Ethereum. A cryptocurrency exchange allows you to trade your traditional currency for one of these digital coins. More and more companies are accepting cryptocurrencies as a form of payment, and it’s possible that cryptocurrency will be the next big thing in finance.
It is worth noting that hacking is not uncommon in the world of cryptocurrency. In the past hackers have swindled crypto traders and stolen their gains. Besides, trading platforms have also been hacked and a huge number of digital coins stolen. This threat makes it absolutely essential to choose secure crypto trading platforms before investing your money.
The cryptocurrency market is still in its infancy. With time, it is expected to grow and mature to become something that is embraced by a majority of investors across the world. The following are the leading 10 cryptocurrency exchanges that suit the needs of different crypto investors. Whether you are new or experienced, this list will help you to know the best exchanges and also choose one that matches your needs.
Coinbase is the most popular platform for buying cryptocurrency. It provides a secure and easy platform for beginners as well as experienced investors to buy, sell, trade, and store digital currency. It supports common cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple. Coinbase is headquartered in the US but operates worldwide. It has filed for licenses with financial regulators in New York, Chicago, San Francisco, and Tokyo. Coinbase also works with banks to provide more efficient transactions between banks and credit cards to purchase cryptocurrency.
This cryptocurrency exchange was launched in 2012 by co-founders Brian Armstrong and Fred Ehrsam. The name comes from the combination of ‘coin’ from ‘cryptocurrency’ & ‘base’ from ‘web. You can use this platform on your mobile devices, or your laptop or desktop. It offers a variety of cryptocurrencies to buy and sell, with low fees and great customer service. To use it, you first need to sign up on the Coinbase website. You will need to verify your account so that the service can confirm and prove your identity. Once you are done with the verification process, you can buy Bitcoin, Ethereum, or other digital currencies using US dollars.
Circle cryptocurrency trading platform is a blockchain-focused service established in 2013. Originally, the company offered services mainly through a cryptocurrency wallet and exchange app. It has since refocused on crypto applications and commercial blockchain. Circle Exchange has a social payments app called Circle Pay. This is a consumer-facing cryptocurrency wallet for iOS and Android that is available in the App Store and Google Play. Circle Trade, the company’s trading desk, is a market maker for bitcoin and other digital assets. Circle Trade helps customers buy bitcoin in 32 countries and sell in more than 40 countries. The company also operates a cryptocurrency storage service called Circle Safe. It also has an enterprise software suite known as Circle Commercial.
In 2016, the company was selected by the U.S. Treasury Department to operate a Federal Reserve Bank-backed US dollar coin called USD Coin. The mission of this coin was to help provide faster, safer, more efficient settlement of transactions between financial institutions. In December 2018, Circle announced it had purchased another cryptocurrency exchange, a move that it took to expand its services and command a bigger share of the digital currency market.
Poloniex is one of the largest crypto exchanges in the world. It was founded in 2014 by Tristan D’Agosta. The exchange is headquartered in the US. Poloniex offers a lot of cryptocurrencies to trade with, including Bitcoin and Etherium. This cryptocurrency trading platform also provides margin trading which allows users to trade with greater leverage than they would be able to get on other exchanges. Poloniex has an amazing interface that offers a great user experience.
This makes it one of the most popular cryptocurrency trading platforms available today. Its website is very fast and easy to use, making it a great choice for beginners looking to get into cryptocurrency trading. It is also fit for experienced traders looking for a place that has advanced features like margin trading and lending market. The only downside of this exchange is that there are not many people trading on it. So, it can be difficult sometimes to find a buyer or seller for a specific coin you want.
Poloniex – One of the Safest Exchanges
Nonetheless, Poloniex has proven to be one of the most reliable and safest exchanges available today. It has a daily trading volume of around $200 million to $300 million. It is considered the world’s largest exchange for trading alternative cryptocurrencies against Bitcoin. Poloniex offers more than 100 cryptocurrencies for trade, including Ethereum, Monero, Zcash, and of course Bitcoin. Poloniex was hacked once in 2016 and 12.3% of their Bitcoin holdings were stolen by hackers.
But the company reimbursed all its customers who lost money as a result of that attack from its own funds. Following this unfortunate event, Poloniex enhanced its authentication for login and withdrawal protection. Its two-factor authentication adds an extra layer of security to members’ accounts. This is achieved by requiring one to enter a one-time passcode sent via text message or generated by a mobile app on a smartphone every time one log in or attempt a withdrawal from their account.
4. Bittrex Global
Bittrex Global is another blockchain company that was established in 2014 by three founders, who were cybersecurity engineers. Their vision was to build a company that simplifies the process of trading blockchain tokens. The company has grown from its humble beginnings to a global organization, with offices in Liechtenstein, Germany, and Bermuda. In 2017, Bittrex Global was ranked as the 6th largest exchange by trade volume. Thus, Bittrex is one of the largest exchanges by volume and supports over 190 tokens. Bittrex has a very large selection of coins and is a great exchange for getting access to tokens that are not listed on other exchanges.
Bittrex Global is committed to providing fair access to all investors and uses industry-leading security measures for all customer accounts. Like other cryptocurrency exchanges, Bittrex Global takes new users through a registration and verification process. The company permits the creation of a personal or corporate account to cater to the needs of both individuals and companies. Once you join this cryptocurrency exchange, you can buy and sell Bitcoin, Ethereum, Chain, Dogecoin, and other coins. Crypto traders looking to invest with a company based in Europe should try this exchange. Over the years, it has provided efficient and secure services, making it one of the go-for trading platforms for many people.
Kraken is one of the best cryptocurrency trading platforms that is headquartered in the United States. This cryptocurrency exchange provides trading between cryptocurrencies. The company is famous across the world for its low trading fees and high liquidity. In addition, the Kraken platform has the reputation of having a clean interface and minimalistic design. However, it does not provide fiat-to-crypto trading pairs like Coinbase and other trading exchanges. This aspect makes it less suitable for beginners who are looking to trade USD or EUR for cryptocurrencies.
Kraken also offers margin trading and a dark pool or a private order book. Kraken is based in San Francisco, California. It was founded in 2011 by Jesse Powell and Michael Gronager, and Powell is still the CEO of the company. The exchange is regulated by the New York State Department of Financial Services (NYSDFS). Thus, Kraken complies with regulations set forth by the NYSDFS. Since it was established, this company has proven to be secure and trustworthy. It prides itself in having an in-house proprietary custody system. As such, it keeps most of its deposits offline. These assets are moved when a user trades or withdraws them.
6. Huobi Global
Huobi Global is another cryptocurrency exchange that leads in the trading of popular coins like Bitcoin and Ethereum. It was the first Chinese trading platform to support the exchange of Ethereum, which is also the world’s second-largest cryptocurrency. The company has been making headlines in recent months due to its rapid growth and expansion. It was one of the first exchanges to offer Ethereum after it was unveiled in 2015. Huobi Global recently launched an ICO platform, which offers investors the opportunity to exchange their monetary investments with unique cryptocurrencies.
Leon Li, a former computer engineer at Oracle, founded Huobi Global in 2013. The exchange has its headquarters in Seychelles. It also has offices in the United States, Japan, South Korea, and Hong Kong. Huobi’s CEO Leon Li is a well-known figure in the crypto industry. In the past, he has been named one of Forbes Asia’s “30 under 30” for his work with Huobi Global. The company provides Huobi Pro, a renowned digital asset trading platform, as well as Huobi OTC, an over-the-counter (OTC) digital asset trading service. In 2017, the company launched its own blockchain called Huobi Chain Project.
This project is a public blockchain that aims to support the issuance and exchange of digital assets. It also plans to launch its own cryptocurrency exchange platform using the blockchain. Huobi’s native token is known as Huobi Token (HT). It is used for transaction fees on the platform, application, and voting rights on the Huobi Global community and receives discounts for other provided services.
Bitfinex is a peer-to-peer Bitcoin exchange that offers cryptocurrency trading services to users around the world.
The platform allows users to trade various cryptocurrency tokens, including Bitcoin, Ethereum, Litecoin, and Ripple among many others. The platform supports the use of currency such as USD or EUR for transactions. Bitfinex was founded in 2012 by Raphael Nicolle, who is also known for establishing another cryptocurrency exchange called iFinex Inc.
In 2014, Bitfinex was hacked and nearly 120,000 BTC were stolen. The hacker managed to access the wallets of several users and then stole them. This hacking incident was one of the biggest to have ever occurred in the industry. It affected the market by a negative margin of 20%. The hacking also led to a number of lawsuits against Bitfinex, including one filed by the US Commodity Futures Trading Commission (CFTC). But the company has since recovered from the incident and now promises enhanced security.
Gemini is a cryptocurrency trading platform that facilitates members to buy Bitcoin and other cryptocurrencies securely with ease. This company was founded in 2014 by brothers Cameron and Tyler Winklevoss. Gemini is based in New York and has offices in San Francisco and Chicago. This digital currency exchange is a licensed fiduciary. It allows customers to buy, sell, and store digital assets such as bitcoin, Zcash, and more on a regulated platform. The exchange operates under the oversight of the New York State Department of Financial Services (NYSDFS).
The Gemini cryptocurrency exchange offers customers the ability to deposit US Dollars from bank accounts or through wire transfer for trading on their platform. Customers can initiate withdrawals from their account back to their bank accounts or wire transfers at any time they wish to. If you are wondering which of the many cryptocurrency trading platforms you can join in 2022, this is one of the best.
Binance is another cryptocurrency exchange that is regarded as one of the world’s largest by trading volume. They have low fees and a simple, clean user interface. Binance is a good option for traders who want to trade with multiple coins at the same time. The ability to use all coins in one exchange is a unique feature offered by Binance. Whether you want to get into new ICOs without having to worry about getting hacked, or a secure exchange that has been around for a couple of years, Binance is for you.
Binance was founded by Changpeng Zhao and Yi He in 2017. Binance has been leading other cryptocurrency exchanges in terms of the daily trading volume of cryptocurrencies for a long time. Upon joining this platform, members can buy the digital assets they want in minutes. The company has its own token known as BNB or Binance Coin). BNB tokens are used for discount fees on the platform. The exchange charges 0.1% fees for trading. But if you trade with a BNB token, then you are charged half the fee price which is 0.05%.
With over 500 digital currencies worldwide that are available in nearly 200 countries, Binance is the right platform for people who are looking to trade different coins. One of the things that makes it popular is the fact that it allows its members to transact with almost any alternative digital asset available on the market. Then, crypto traders can begin trading with as little as one dollar.
Bitstamp is well known for offering a low-fee exchange for cryptocurrency. So, if you are looking for solid ways to trade cryptocurrencies, Bitstamp is one of the best platforms to join. The exchange is definitely a safe platform for buying Bitcoin, Litecoin, and Ripple. Bitstamp’s website is very user-friendly and is available in multiple languages. Whether you are new to or experienced in cryptocurrency trading, this platform is a good place to buy and sell digital assets. Users go through a signing up and verification process before they can begin trading on the site.
This process includes providing personal info, uploading an ID, and confirming your bank account information. Although this platform is not the cheapest option on the market, it is a well-established brand that is trusted by millions. The company has been in business for more than five years. Bitstamp is one of the oldest and most reliable cryptocurrency exchanges on the market. It was founded back in 2011 and has since grown to become one of the largest exchanges by trading volume. It offers a wide variety of payment options and cryptocurrencies to trade with. In addition, it also provides advanced tools such as stop orders and other features which can help you to quickly get started with trading.
As more and more cryptocurrency trading platforms join the market, investors will have more options to choose from when it comes to exchanging their traditional cash for digital currencies. There is a myriad of things to consider when selecting your best platform. The top factors include how secure a company is, the trading fee charged, and ease of use. Meanwhile, these platforms have proven to be the best so far. You can learn more details including how to join any of these exchange companies by visiting their websites.